natural gas

Eni’s Natural Gas Discovery Offshore Egypt Adds to Plethora of Eastern Med Opportunities

Eni’s Natural Gas Discovery Offshore Egypt Adds to Plethora of Eastern Med Opportunities

Italian supermajor Eni SpA has struck natural gas in its first exploration well in the North El Hammad offshore Egypt in the Nile Delta, adding to a gusher of opportunities in the region.  Eni, which operates the block in the Eastern Mediterranean (Med) with partners BP plc and Total SA, said the discovery at Bashrush…

July 2, 2020
August Natural Gas Futures Tumble on Lower LNG Feed Gas Volumes

August Natural Gas Futures Tumble on Lower LNG Feed Gas Volumes

BREAKING: U.S. EIA reports injection of 65 Bcf for the week ending June 26 LNG feed gas demand was down notably Wednesday Forecasts continued to call for strong heat through mid-July Markets will next turn to Thursday’s storage report Natural gas futures lost momentum Wednesday following two days of solid gains, after a disappointing drop…

July 2, 2020
USMCA Launches Amidst Frayed Relationship Between Mexico Government, Private Sector

USMCA Launches Amidst Frayed Relationship Between Mexico Government, Private Sector

Officials in Mexico celebrated the launch of the U.S.-Mexico-Canada Agreement (USMCA) on Wednesday, as the revamped North American Free Trade Agreement (NAFTA) treaty took effect after years of negotiations.  “This is going to be one of the motors of the relaunch of the Mexican economy,” Mexican Finance Minister Arturo Herrera said in a virtual address.…

July 1, 2020
Pandemic Pushing Electricity Use From Industrial, Commercial Sectors to Residential, Says EIA

Pandemic Pushing Electricity Use From Industrial, Commercial Sectors to Residential, Says EIA

Residential electricity sales in the United States surged to a record high in April, while cratering in the commercial and industrial sectors, a result of measures taken to reduce the spread of Covid-19, according to the Energy Information Administration (EIA). Total electricity sales in the United States declined 4% in April compared with the same…

July 1, 2020
Mexico Energy Regulator Reportedly Lays Off 40% of Workforce Amid Pandemic, Sector Upheaval

Mexico Energy Regulator Reportedly Lays Off 40% of Workforce Amid Pandemic, Sector Upheaval

Mexico’s Comisión Reguladora de Energía (CRE) on Tuesday informed employees of mass layoffs effective immediately, with the natural gas regulation segment hit especially hard, a former employee confirmed to NGI’s Mexico GPI. The former employee, who asked to remain anonymous, said an estimated 200 staffers, or about 40% of CRE’s workforce, were told to return…

June 30, 2020
BC Faces Growing Backlog of Orphan Natural Gas Well Cleanups After Ranch Energy Failure

BC Faces Growing Backlog of Orphan Natural Gas Well Cleanups After Ranch Energy Failure

A two-year corporate bankruptcy case has resulted in a 110% jump in discarded orphan natural gas wells and production facilities awaiting cleanups, according to the British Columbia Oil and Gas Commission (BCOGC). A court-supervised distress auction in the province only sold 414 sites or one-half the BC assets of defunct Ranch Energy Corp. to Erikson…

June 30, 2020
Mexican Oil, Natural Gas Production Down in May as OPEC Cuts Take Force

Mexican Oil, Natural Gas Production Down in May as OPEC Cuts Take Force

Mexico’s oil production fell to 1.64 million b/d in May compared to 1.66 million b/d in the year-ago period, according to new data provided by the country’s upstream watchdog Comisión Nacional de Hidrocarburos (CNH). Gas production in May was 3.61 Bcf/d, down from 3.82 Bcf/d last May. The figures are the first to reflect committed…

June 29, 2020
Hotter Forecast Boosts Natural Gas Early as Futures Look to ‘Mount a Comeback’

Hotter Forecast Boosts Natural Gas Early as Futures Look to ‘Mount a Comeback’

A hotter-trending weather outlook over the weekend helped lift natural gas futures sharply higher in early trading Monday. The August Nymex contract was up 7.6 cents to $1.620/MMBtu at around 8:40 a.m. ET. Coming off hotter trends over the weekend, Bespoke Weather Services said the next two weeks are looking “very impressive in terms of…

June 29, 2020
Canada Dreams of Arctic LNG Gain U.S. Private Equity for Project Near Beaufort Sea

Canada Dreams of Arctic LNG Gain U.S. Private Equity for Project Near Beaufort Sea

A 33-month northern hunt has found a U.S.-owned partner for reviving the last remains of formerly grand designs for natural gas development in the Canadian Arctic. Inuvialuit Regional Corp. (IRC), a Mackenzie Delta tribal enterprise, has recruited the Alberta arm of Texas-based private equity firm The Energy & Minerals Group (EMG) for a regional liquefied…

June 26, 2020
U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

Posting its smallest weekly decline in months, the U.S. rig count dropped one unit to finish at 265 for the week ending Friday (June 26), suggesting that upstream activity could finally be stabilizing after a prolonged period of Covid-induced retrenchment. According to the latest Baker Hughes Co. (BKR) data, total U.S. natural gas-directed rigs finished…

June 26, 2020
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